{"id":169485,"date":"2021-04-22T03:29:32","date_gmt":"2021-04-22T03:29:32","guid":{"rendered":"http:\/\/www.gcmasia.co\/analysis\/en\/?p=169485"},"modified":"2021-04-22T03:29:32","modified_gmt":"2021-04-22T03:29:32","slug":"220421-afternoon-session-analysis","status":"publish","type":"post","link":"https:\/\/www.gcmasia.co\/analysis\/en\/information\/day\/220421-afternoon-session-analysis\/","title":{"rendered":"220421 Afternoon Session Analysis"},"content":{"rendered":"

22 April 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis<\/strong><\/p>\n

 <\/p>\n

Pound remains supported despite downbeat data.<\/strong><\/span><\/p>\n

During late Asian session, the pound sterling which traded against the dollar and other currency pairs remain resilient and rose despite with weaker than expected inflation data. According to National Statistics, CPI for yearly basis slips to 0.7%, missing market expectation of 0.8%. However, the market remain unfazed and stay positive following news of U.K government to reopen all sectors of economy by May. Following strong vaccination rollout and dwindling COVID-19 cases, lockdown restrictions in the U.K have been slowly eased. U.K Prime Minster Boris Johnson previously stated that the U.K will reopen all sectors of economy if cases fell to a minimum level. The economy reopening would lead to significant recovery in near term, thus help support the pound sentiment. At the time of writing, GBP\/USD rose 0.11% to $1.3941.<\/p>\n

 <\/p>\n

In the commodities market, crude oil price plunged 0.10% to $60.95 per barrel as of writing following talks of deals for Iran to export crude oil. Following a meeting in Vienna, Biden administration has given a signal to ease sanctions on Iran that already hurt their economy like the crude oil sector and finance to reduce tensions and facilitate negotiations on denuclearization. The agreement would allow Iran to re -exporting crude oil and it is expected to increase crude oil supply by 2 million barrels a day in the global market. On the other hand, gold price edge higher 0.05% to $1794.51 a troy ounce at the time of writing amid ongoing dollar weakness.<\/p>\n

 <\/p>\n

Today\u2019s Holiday Market Close<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event <\/strong><\/p>\n

N\/A<\/p>\n

 <\/p>\n

Today\u2019s Highlight Events<\/u><\/p>\n

Time\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Market\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Event<\/strong><\/p>\n

20:30\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 EUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 ECB Press Conference<\/p>\n

 <\/p>\n

Today\u2019s Highlight Economic Data<\/u><\/p>\n\n\n\n\n\n\n
Time<\/strong><\/td>\nNation & Data<\/strong><\/td>\nPrevious<\/strong><\/td>\nForecast<\/strong><\/td>\nActual<\/strong><\/td>\n<\/tr>\n
19:45<\/td>\nEUR – ECB Interest Rate Decision (Apr)<\/td>\n0.00%<\/td>\n0.00%<\/td>\n–<\/td>\n<\/tr>\n
20:30<\/td>\nUSD – Initial Jobless Claims<\/td>\n576K<\/td>\n625K<\/td>\n–<\/td>\n<\/tr>\n
22:00<\/td>\nUSD – Existing Home Sales (Mar)<\/td>\n6.22M<\/td>\n6.18M<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Technical Analysis<\/u><\/strong><\/p>\n

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DOLLAR_INDX, H4: <\/strong>Dollar index was traded lower while currently testing the support level at 90.95. MACD which illustrated diminishing bullish momentum suggest the index to extend its losses after it successfully breakout below the support level.<\/p>\n

 <\/p>\n

Resistance level: 91.25, 91.55<\/p>\n

Support level: 90.95, 90.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GBPUSD, H4: <\/strong>GBPUSD was traded higher while currently testing the resistance level at 1.3945. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level.<\/p>\n

 <\/p>\n

Resistance level: 1.3945, 1.3990<\/p>\n

Support level: 1.3910, 1.3865<\/p>\n

 <\/p>\n

\"\"<\/p>\n

EURUSD, H4: <\/strong>EURUSD was traded higher following prior breakout above the previous resistance level at 1.2030. MACD which illustrated diminishing bearish momentum signal suggest the pair to extend its gains toward the resistance level at 1.2065.<\/p>\n

 <\/p>\n

Resistance level: 1.2065, 1.2100<\/p>\n

Support level: 1.2030, 1.1990<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDJPY, Daily: <\/strong>USDJPY was traded lower following prior breakout below the previous support level at 108.30. MACD which illustrated bearish bias momentum signal suggest the pair to extend its losses toward the support level at 107.65.<\/p>\n

 <\/p>\n

Resistance level: 108.30, 109.20<\/p>\n

Support level: 107.65, 107.00<\/p>\n

 <\/p>\n

\"\"<\/p>\n

AUDUSD, Daily: <\/strong>AUDUSD was traded higher while currently testing the resistance level at 0.7760. MACD which illustrated diminishing bearish momentum suggest the pair to extend its gains after it successfully breakout above the resistance level at 0.7760.<\/p>\n

 <\/p>\n

Resistance level: 0.7760, 0.7815<\/p>\n

Support level: 0.7715, 0.7665<\/p>\n

 <\/p>\n

\"\"<\/p>\n

NZDUSD, Daily: <\/strong>NZDUSD was traded higher following prior rebound from the support level at 0.7170. MACD which illustrated bullish bias momentum signal suggests the pair to extend its gains toward the resistance level at 0.7235.<\/p>\n

 <\/p>\n

Resistance level: 0.7235, 0.7300<\/p>\n

Support level: 0.7170, 0.7110<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCAD, H4: <\/strong>USDCAD was traded lower while currently testing the support level at 1.2510. MACD which illustrated bearish bias momentum suggest the pair to extend its losses after it successfully breakout below the support level at 1.2510.<\/p>\n

 <\/p>\n

Resistance level: 1.2630, 1.2775<\/p>\n

Support level: 1.2510, 1.2390<\/p>\n

 <\/p>\n

\"\"<\/p>\n

USDCHF, Daily: <\/strong>USDCHF was traded lower following prior breakout below the previous support level at 0.9185. MACD which illustrated bearish bias momentum suggests the pair to extend its losses toward the support level at 0.9110.<\/p>\n

 <\/p>\n

Resistance level: 0.9185, 0.9220<\/p>\n

Support level: 0.9110, 0.9030<\/p>\n

 <\/p>\n

\"\"<\/p>\n

CrudeOIL, H4: <\/strong>Crude oil price was traded lower following prior breakout below the previous support level at 61.35. MACD which illustrated bearish bias momentum suggest the commodity to extend its losses toward the support level at 59.85.<\/p>\n

 <\/p>\n

Resistance level: 61.35, 62.55<\/p>\n

Support level: 59.85, 58.70<\/p>\n

 <\/p>\n

\"\"<\/p>\n

GOLD_, H4: <\/strong>Gold price was traded higher following prior breakout above the previous resistance level at 1788.50. MACD which illustrated bullish bias momentum signal suggest the commodity to extend its gains toward the resistance level at 1803.40.<\/p>\n

 <\/p>\n

Resistance level: 1803.40, 1816.00<\/p>\n

Support level: 1788.50, 1768.20<\/p>\n","protected":false},"excerpt":{"rendered":"

22 April 2021\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Afternoon Session Analysis   Pound remains supported despite downbeat data. During late Asian session, the pound sterling which traded against the dollar and other currency pairs remain resilient and rose despite with weaker than expected inflation data. According to National Statistics, CPI for yearly basis slips to 0.7%, missing market expectation of […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[13],"tags":[],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/169485"}],"collection":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/comments?post=169485"}],"version-history":[{"count":0,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/posts\/169485\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/media?parent=169485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/categories?post=169485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gcmasia.co\/analysis\/en\/wp-json\/wp\/v2\/tags?post=169485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}